2023-05-19 08:24:27 ET
Market participants found themselves to be overall net buyers of fund assets for the fourth consecutive week as they injected $4.6B into the exchange traded funds and conventional funds for the week ending on May 17.
At the head of the table were money market funds as they pulled in $10.4B and they were followed by taxable bond funds which attracted $1.3B. On the other side, equity funds retracted $7B and tax-exempt fixed income funds suffered outflows of $187M.
Equity base exchange traded funds notice net outflows for the second week in three as the space handed back $3.4B. The two funds that observed the most significant outflows were the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) as it lost $2.7B and the iShares Core S&P 500 ETF ( IVV ) which gave back $2.6B.
In reverse, the equity focused exchange traded funds that attracted the largest amount of capital were the SPDR S&P 500 ( NYSEARCA: SPY ) and the JPMorgan Equity Premium Income ETF ( NYSEARCA: JEPI ) as they brought in $2.5B and $481M.
From a fixed income exchange traded fund lens, the two ETFs that garnered the largest amount of net new money were the iShares iBoxx $ Investment Grade Corporate Bond ETF ( NYSEARCA: LQD ) at $1.1B and the Schwab Short Term US Treasury ETF ( SCHO ) at $967M.
At the same time, the two fixed income funds that watch the most cash exit the door where the iShares Short Treasury Bond ETF ( SHV ) and the iShares iBoxx $ High Yield Corporate Bond ETF ( HYG ). SHV lost $3B and HYG lost $645M.
Fund flow data is per the latest Refinitiv Lipper weekly fund flow report.
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Investors were net buyers of fund assets for the fourth consecutive week, adding $4.6B